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It’s 2018. Do you know where your employees are?

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It’s 2018.  Do you know where your employees are?

Study Shows 18% of U.S. Workforce May Retire Within Five Years.

Employee administration outsourcing giant ADP announced yesterday that, assuming an average retirement age of 61 years, as much as 18% of the U.S. workforce could retire within the next five years. This was the key finding of a new ADP Research Institute® report on age and retirement benchmarks in the U.S. workforce.

"Our research indicates that several industries could be facing a significant loss of skilled talent over the next five years."

"While there is no guarantee that everyone who reaches the average retirement age will actually stop working, our research indicates that several industries could be facing a significant loss of skilled talent over the next five years," stated Ahu Yildirmaz, Sr. Director – Market Insights at the ADP Research Institute. "Retirement data provides a critical glimpse into the future of a company's workforce. Businesses will want to assess how their own workforces compare to the averages and consider strategies for recruitment and training in order to replace the significant loss of knowledge, experience and company culture that can be expected."

The six industries studied ranged from a low of 9% reaching retirement age in the hospitality industry to a high of 28% in public administration. Other industries included in the study were manufacturing, healthcare, education and retail.

"Benchmarks achieved through in-depth research give human capital professionals a new ability to tap the full talent pool and manage their most valuable asset -- people," according to Don Weinstein, Senior Vice President of Product Management at ADP. "The power of "big data" is a growing force in driving strategic business decisions."

 

 

 

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